MIRA INFORM REPORT
|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIAM CLOTHING SUPPLIER CO., LTD. |
|
|
|
|
Registered Office : |
39/100-101 Moo 2, Samutsakorn Industrial Estate, T. Bangkachao, A. Muang, Samutsakorn 74000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
14.08.1997 |
|
|
|
|
Com. Reg. No.: |
0105540073575 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor & Exporter of Underwears and Ligerie Products |
|
|
|
|
No. of Employees : |
750 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Compliant |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
THAILAND- ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as it recovered from the Asian financial crisis of 1997-98. Thai exports - mostly machinery and electronic components, agricultural commodities, and jewelry - continue to drive the economy, accounting for more than half of GDP. The global financial crisis of 2008-09 severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.3%. In 2010, Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports rebounded from their depressed 2009 level. Steady economic growth at just below 4% during the first three quarters of 2011 was interrupted by historic flooding in October and November in the industrial areas north of Bangkok, crippling the manufacturing sector and leading to a revised growth rate of only 0.1% for the year. The industrial sector is poised to recover from the second quarter of 2012 onward, however, and the government anticipates the economy will probably grow between 5.5 and 6.5% for 2012, while private sector forecasts range between 3.8% and 5.7%.
Source
: CIA
Company name
SIAM
CLOTHING SUPPLIER CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 39/100-101 MOO
2, SAMUTSAKORN
INDUSTRIAL ESTATE,
T. BANGKACHAO,
A. MUANG,
SAMUTSAKORN 74000, THAILAND
TELEPHONE : [66] 34
490-271-6 , 34 829-120-6
FAX :
[66] 34
490-277
E-MAIL
ADDRESS : info@siamclothingsupplier.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1997
REGISTRATION
NO. : 0105540073575 [Former
: [3] 1367/2540]
TAX
ID NO. : 3751021959
CAPITAL REGISTERED : BHT. 200,000,000
CAPITAL PAID-UP : BHT.
200,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MS.
SIRIWAN LEENAWATTANA, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 750
LINES
OF BUSINESS : UNDERWEARS AND
LIGERIE PRODUCTS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on August 14,
1997 as a private
limited company under
the registered name SIAM
CLOTHING SUPPLIER CO., LTD. by Thai
group, Leenawatana family. Its
business objective is to
provide manufacturing service wide
range of underwear,
lingerie and related
products to both
local and international
markets. Subject currently
employs approximately 750
staff. The subject
is one of
the leading producers
of men’s underwear
in domestic.
The subject’s registered
address is 39/100-101
Moo 2, Samutsakorn
Industrial Estate,
T. Bangkrachao, A. Muang,
Samutsakorn 74000, and this
is the subject’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Charnchai Leenawattana |
|
Thai |
65 |
|
Mr. Hasachai Leenawattana |
|
Thai |
41 |
|
Ms. Siriwan Leenawattana |
|
Thai |
58 |
|
Ms. Sumitra Leenawattana |
|
Thai |
69 |
|
Mr. Thana Leenawattana |
|
Thai |
40 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Ms. Siriwan Leenawattana is
the Managing Director.
She is Thai
nationality with the age of
58 years old.
Mr. Hasachai Leenawattana is
the Deputy Managing
Director & Production
Manager.
He is Thai
nationality with the
age of 41
years old.
Mr. Thana Leenawattana is
the Sales & Marketing Manager.
He is Thai
nationality with the
age of 40
years old.
BUSINESS OPERATIONS
The subject is engaged
in manufacturing and
exporting of men,
lady and children’s
underwear and related
products, such as
brief, boxer, boxer brief,
fly front, paints,
and lingerie, as
well as T-shirt
under customer’s order.
PRODUCTION CAPACITY
Approximately 2,000,000 dozens/annum
[180,000 dozens/month]
IMPORT [COUNTRIES]
Some of raw
materials, fabric, cotton
yarns and accessories
are imported from
U.S.A., Japan, United Kingdom, Republic of
China, Switzerland, India,
Pakistan, Taiwan, Korea
and Germany.
EXPORT [COUNTRY]
Its products are
exported to U.S.A. [90%],
Japan [5%] and
European countries [5%].
SALES [LOCAL]
Some of the
products are sold
locally.
MAJOR CUSTOMERS
Esportia International Inc. : U.S.A.
Majestic A Co.,
Ltd. : Thailand
SUBSIDIARY AND AFFILIATED COMPANIES
|
Name |
Country |
Business Type |
|
The Ever Group
Co., Ltd. |
Thailand |
Dyeing & printing
service |
|
Ruangrit Co., Ltd. |
Thailand |
Manufacturer of garments |
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
for the past
two years.
CREDIT
Sales are by
cash or on
the credit terms
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60-90 days.
Imports are by
L/C at sight
or T/T.
Exports are against
L/C at sight
or T/T.
BANKING
Kasikornbank Public Co.,
Ltd.
[Head Office : 1 Kasikorn Lane,
Rajburana Rd., Rajburana,
Bangkok]
Bangkok Bank Public
Co., Ltd.
[Head Office :
333 Silom Rd.,
Silom, Bangrak, Bangkok]
EMPLOYMENT
The subject employs
approximately 750 staff.
[office staff and
factory workers]
LOCATION DETAILS
The premise is
rented for operating
office, factory and
warehouse on 264,000 square
feet of area
at the heading
address. Premise is
located in an
industrial area.
COMMENT
The subject’s all processes
of production is
ensured the required
quality standards right
from checking of raw
cotton yarns, controlling over
the procurement of
supplies and materials through
packing and dispatches
as well as
quick response to its
customers. For this aim,
the subject has to
internally guarantee the
quality and speed
of production. So
it always invests
in technologically advanced
machinery as it
invested in each production unit
in order to
produce high number
of output with
speed, precision, and
efficiency including the
sophisticated quality control
equipment that is
used to achieve
the standard requirements
of on-going process
and final products.
FINANCIAL INFORMATION
The capital was
registered at Bht. 27,000,000 divided
into 270,000 shares
of Bht. 100 each.
The capital was
increased later as
follows:
Bht. 100,000,000
on January 28,
2000
Bht. 120,000,000
on May 25,
2000
Bht. 150,000,000
on July 4,
2001
Bht. 180,000,000
on April 1,
2002
Bht. 200,000,000
on September 24,
2002
The latest registered
capital was increased
to Bht. 200 million, divided into
2,000,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 28,
2012]
|
NAME |
HOLDING |
% |
|
Mr. Charnchai Leenawattana Nationality: Thai Address : 184
Nanglinchee Rd., Chongnonsi,
Yannawa, Bangkok |
284,556 |
14.23 |
|
Ms. Siriwan Leenawattana Nationality: Thai Address : 184
Nanglinchee Rd., Chongnonsi,
Yannawa, Bangkok |
284,554 |
14.23 |
|
Ms. Sumitra Leenawattana Nationality: Thai Address : 184
Nanglinchee Rd., Chongnonsi,
Yannawa, Bangkok |
284,554 |
14.23 |
|
Mrs. Zinyoo Leenawattana Nationality: Thai Address : 184
Nanglinchee Rd., Chongnonsi,
Yannawa, Bangkok |
284,554 |
14.23 |
|
Mr. Thana Leenawattana Nationality: Thai Address : 184
Nanglinchee Rd., Chongnonsi,
Yannawa, Bangkok |
284,554 |
14.23 |
|
Mr. Hasachai Leenawattana Nationality: Thai Address : 184
Nanglinchee Rd., Chongnonsi,
Yannawa, Bangkok |
284,554 |
14.23 |
|
Mrs. Vilawan Kul-ak Nationality: Thai Address : 291
Soi Arkarn Songkroh,
Thungwatdon,
Sathorn, Bangkok |
284,554 |
14.23 |
|
Mr. Niphon Kul-ak Nationality: Thai Address : 10
Moo 2, Banklang,
Bangbal, Ayutthaya |
8,120 |
0.39 |
Total Shareholders : 8
Share Structure [as
at April 28,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
2,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
2,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Charal Pisitpitayaseri No.
1504
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
8,912,220.36 |
1,892,537.40 |
2,011,115.38 |
|
Trade Accounts &
Other Receivable |
120,400,495.04 |
138,650,457.73 |
174,265,144.42 |
|
Inventories |
122,271,614.75 |
138,133,125.66 |
102,454,314.04 |
|
Other Current Assets
|
3,444,040.04 |
4,294,386.01 |
5,174,656.44 |
|
Total Current Assets
|
255,028,370.19 |
282,970,506.80 |
283,905,230.28 |
|
|
|
|
|
|
Fixed Assets |
177,016,923.20 |
188,755,968.69 |
214,296,219.14 |
|
Other Non-current Assets |
9,456,939.82 |
8,756,358.56 |
7,753,484.04 |
|
Total Assets |
441,502,233.21 |
480,482,834.05 |
505,954,933.46 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft and
Loan from Financial Institutions |
84,297,232.09 |
101,238,909.10 |
134,176,922.66 |
|
Trade Accounts & Other
Payable |
82,603,435.71 |
109,062,148.91 |
76,158,150.27 |
|
Accrued Income Tax |
1,134,568.20 |
741,071.39 |
- |
|
Other Current Liabilities |
1,225,437.43 |
1,407,151.41 |
29,850,824.74 |
|
Total Current Liabilities |
169,260,673.43 |
212,449,280.81 |
240,185,897.67 |
|
Total Liabilities |
169,260,673.43 |
212,449,280.81 |
240,185,897.67 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 2,000,000 shares |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Capital Paid |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Retained Earning -
Unappropriated |
72,241,559.78 |
68,033,553.24 |
65,769,035.79 |
|
Total Shareholders' Equity |
272,241,559.78 |
268,033,553.24 |
265,769,035.79 |
|
Total Liabilities & Shareholders' Equity |
441,502,233.21 |
480,482,834.05 |
505,954,933.46 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales and Services
Income |
760,602,759.72 |
797,636,457.57 |
802,926,898.26 |
|
Other Income |
8,189,313.58 |
6,457,012.61 |
2,794,025.47 |
|
Total Revenues |
768,792,073.30 |
804,093,470.18 |
805,720,923.73 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold and Services |
680,403,247.88 |
704,660,550.74 |
685,646,149.80 |
|
Selling Expenses |
30,298,281.94 |
36,617,969.95 |
58,993,896.04 |
|
Administrative Expenses |
49,131,102.72 |
56,611,917.00 |
51,195,757.95 |
|
Total Expenses |
759,832,632.54 |
797,890,437.69 |
795,835,803.79 |
|
Profit / [Loss] Before Financial
Cost & Income Tax |
8,959,440.76 |
6,203,032.49 |
9,885,119.94 |
|
Financial Cost |
[2,415,101.77] |
[2,283,928.55] |
[2,972,242.95] |
|
Profit / [Loss] Before Income
Tax |
6,544,338.99 |
3,919,103.94 |
6,912,876.99 |
|
Income Tax |
[2,336,332.45] |
[1,654,586.49] |
[2,705,930.35] |
|
Net Profit / [Loss] |
4,208,006.54 |
2,264,517.45 |
4,206,946.64 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.51 |
1.33 |
1.18 |
|
QUICK RATIO |
TIMES |
0.76 |
0.66 |
0.73 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.30 |
4.23 |
3.75 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.72 |
1.66 |
1.59 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
65.59 |
71.55 |
54.54 |
|
INVENTORY TURNOVER |
TIMES |
5.56 |
5.10 |
6.69 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
57.78 |
63.45 |
79.22 |
|
RECEIVABLES TURNOVER |
TIMES |
6.32 |
5.75 |
4.61 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
44.31 |
56.49 |
40.54 |
|
CASH CONVERSION CYCLE |
DAYS |
79.06 |
78.50 |
93.22 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
89.46 |
88.34 |
85.39 |
|
SELLING & ADMINISTRATION |
% |
10.44 |
11.69 |
13.72 |
|
INTEREST |
% |
0.32 |
0.29 |
0.37 |
|
GROSS PROFIT MARGIN |
% |
11.62 |
12.47 |
14.95 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.18 |
0.78 |
1.23 |
|
NET PROFIT MARGIN |
% |
0.55 |
0.28 |
0.52 |
|
RETURN ON EQUITY |
% |
1.55 |
0.84 |
1.58 |
|
RETURN ON ASSET |
% |
0.95 |
0.47 |
0.83 |
|
EARNING PER SHARE |
BAHT |
2.10 |
1.13 |
2.10 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.38 |
0.44 |
0.47 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.62 |
0.79 |
0.90 |
|
TIME INTEREST EARNED |
TIMES |
3.71 |
2.72 |
3.33 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(4.64) |
(0.66) |
|
|
OPERATING PROFIT |
% |
44.44 |
(37.25) |
|
|
NET PROFIT |
% |
85.82 |
(46.17) |
|
|
FIXED ASSETS |
% |
(6.22) |
(11.92) |
|
|
TOTAL ASSETS |
% |
(8.11) |
(5.03) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -4.64%. Turnover has decreased from THB 797,636,457.57
in 2010 to THB 760,602,759.72 in 2011. While net profit has increased from THB
2,264,517.45 in 2010 to THB 4,208,006.54 in 2011. And total assets has
decreased from THB 480,482,834.05 in 2010 to THB 441,502,233.21 in 2011.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
11.62 |
Satisfactory |
Industrial
Average |
14.07 |
|
Net Profit Margin |
0.55 |
Acceptable |
Industrial
Average |
1.04 |
|
Return on Assets |
0.95 |
Acceptable |
Industrial
Average |
1.53 |
|
Return on Equity |
1.55 |
Deteriorated |
Industrial
Average |
5.14 |
Gross Profit Margin used to assess a firm's financial health by revealing
the proportion of money left over from revenues after accounting for the cost
of goods sold. Gross profit margin serves as the source for paying additional
expenses and future savings. The company's figure is 11.62%. When compared with
the industry average, the ratio of the company was lower, this indicated that
company may have problems with control over its costs.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company's figure is 0.55%.
When compared with the industry average, the ratio of the company was lower.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. When compared with the
industry average, it was lower, the company's figure is 0.95%.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. When compared with the
industry average, it was lower, the company's figure is 1.55%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.51 |
Impressive |
Industrial
Average |
1.41 |
|
Quick Ratio |
0.76 |
|
|
|
|
Cash Conversion Cycle |
79.06 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's
figure is 1.51 times in 2011, increased from 1.33 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 0.76 times in 2011,
increased from 0.66 times, then the company has not enough current assets that
presumably can be quickly converted to cash for pay financial obligations.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 80 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.38 |
Impressive |
Industrial
Average |
0.66 |
|
Debt to Equity Ratio |
0.62 |
Impressive |
Industrial
Average |
2.13 |
|
Times Interest Earned |
3.71 |
Impressive |
Industrial
Average |
1.25 |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the shareholders
have committed. A lower the percentage means that the company is using less
leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 3.71 higher than 1, so the company can pay interest
expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.38 less than 0.5, most of the company's
assets are financed through equity.
Trend of the average
competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Uptrend
ACTIVITY :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.30 |
Impressive |
Industrial
Average |
4.29 |
|
Total Assets Turnover |
1.72 |
Impressive |
Industrial
Average |
1.47 |
|
Inventory Conversion Period |
65.59 |
|
|
|
|
Inventory Turnover |
5.56 |
Impressive |
Industrial
Average |
3.20 |
|
Receivables Conversion Period |
57.78 |
|
|
|
|
Receivables Turnover |
6.32 |
Impressive |
Industrial
Average |
2.94 |
|
Payables Conversion Period |
44.31 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.32 and 5.75 in
2011 and 2010 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2011
increased from 2010. This would suggest the company had good performance in the
management of its debt collections.
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has decreased from 72 days at the
end of 2010 to 66 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 5.1 times in year 2010 to 5.56 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.72 times and 1.66
times in 2011 and 2010 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.